Just like stocks
Whoever owns a lot can bring the value up or down to manipulate the market
Discussion
Bitcoin has had a couple decades to distribute throughout the world so ( someone reading this can correct me if I'm wrong ) I don't think they own a majority of the bitcoin out there. They probably don't have that much power to manipulate it. I'd be more concerned if they hard forked it.
Some few must have a bunch of holdings of bitcoin b ecause every time bad news happens, it plummets. Who is doing that?
Appreciate your comment cuz it's got me digging for understanding about this. Found this just now.